Distributed ledger startup R3CEV has gained an additional three banking partners, raising the number of total banks involved to 25.

Japan's Mizuho Bank, Nordea Bank – which operates in Northern Europe – and Italian bank UniCredit join the likes of Citi, HSBC, Barclays and Goldman Sachs in R3CEV's blockchain project which sets out to spread the use of the technology across the world's financial markets.

David Rutter, R3CEV CEO, said in a statement:

"We have been inundated with interest in this project from banks across the world since launching with an initial nine institutions just over a month ago."

He continued: "An emphasis on working with the market has always been a key differentiator of our project from day one, and so we are delighted to broaden the network once again and grow the resources we have to research and develop this exciting technology."

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